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2419 Northlake Court Ne Atlanta, GA 30345

2 Beds 3 Baths 1,594 sqft Built 1974

$215,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $134.88
  • 4 Days on Market
  • MLS # : 6852145
  • Updated Date : 03/12/2021 at 08:01
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,594 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great location at this Small and Quite Community! Amazing opportunity to make this your own.... especially at an AWESOME price! Spacious 2-bedroom, 2.5 bath roommate plan, large living space with newer front windows, fireplace... dining room and kitchen will wall of atrium doors that open to a private patio for entertaining where you can enjoy your private view of the community lake.... or just go hang out the private beach with your kayak or just enjoy a picnic.... serenity inside city!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k344k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732169

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Henderson Mill Elementary School Primary Regular 604 38 5
Henderson Middle School Middle Regular 1,578 95 6
Lakeside High School High Regular 2,048 111 7

Henderson Mill Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 38
5
GreatSchools Rating

Henderson Middle School

  • Education Level: Middle
  • # of students: 1,578
  • # of teachers: 95
6
GreatSchools Rating

Lakeside High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 111
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$747
Property Tax -$315
Property Insurance -$58
HOA -$300
Property Management Fees -$119
CASH FLOW
$201

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$215,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$21,560

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,740

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,740
$1,740
RENT COMPS ANALYSIS
  • 2419 Northlake Court Ne Atlanta, GA 3
    • 2 beds 3 baths ∙ 1,594 Sqft ∙ Built 1974 2 beds 3 baths ∙ 1,594 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.09
    •  
  • 4056 Wildflower Lane Tucker, GA 1
    • 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1982
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 4437 Lavista Road Tucker, GA 2
    • 2 beds 2 baths ∙ 1,749 Sqft ∙ Built 1957 2 beds 2 baths ∙ 1,749 Sqft ∙ Built 1957
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kim Miller
1.678.209.3051
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852145
Last Updated: 03/12/2021
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. Copyright (c) 2021 First Multiple Listing Service, Inc.

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